NZX to settle trades faster from March 7

Sun, 28 Feb 2016

By Pattrick Smellie Feb. 29 (BusinessDesk) - New Zealand's stock exchange operator, NZX, will move to settle trades within two days instead of the current three day process from next Monday, March 7, the company confirmed. "Shortening of the settlement cycle from trade date plus three business days (T+3) to trade date plus two business days (T+2) ensures NZX matches international best practice in this area and maintains alignment across New Zealand and Australia’s capital markets, with the ASX also moving to a T+2 settlement cycle" next M...

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